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Derivatives (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Primary Net Hedging Positions and Corresponding Fair Values

The following tables provide a summary of the primary net hedging positions and corresponding fair values held as of September 30, 2022 and December 31, 2021:

		September 30, 2022
Currency Hedged (Buy/Sell)		Gross Notional Value				Fair Value Asset (Liability)
U.S. dollar/Japanese yen		$	51			$	6
U.S. dollar/South Korean won			105				10
U.S. dollar/euro			13				1
U.S. dollar/U.K. pound sterling			6				1
U.S. dollar/Taiwan dollar			41				3
euro/Chinese renminbi			27				—
U.K. pound sterling/euro			4				—
euro/U.S. dollar			426				(13	)
Japanese yen/U.S. dollar			38				(2	)
Total		$	711			$	6

		December 31, 2021
Currency Hedged (Buy/Sell)		Gross Notional Value				Fair Value Asset
U.S. dollar/Japanese yen		$	60			$	2
U.S. dollar/South Korean won			108				1
U.S. dollar/euro			15				—
U.S. dollar/U.K. pound sterling			11				—
U.S. dollar/Taiwan dollar			47				—
Total		$	241			$	3

Summary of Interest Rate Swaps and Interest Rate Caps

The table below summarizes interest rate swaps and interest rate caps outstanding at September 30, 2022 and December 31, 2021:

																September 30, 2022				December 31, 2021
Effective Date		Maturity		Fixed Rate				Notional Amount at Effective Date				Notional Amount at September 30, 2022				Fair Value Asset				Fair Value Asset (Liability)
April 5, 2019		March 31, 2023			2.309	%		$	300			$	200			$	2			$	(5	)
October 26, 2021		February 28, 2025			0.485	%			200				200				17				4
March 31, 2022		February 28, 2025			0.623	%			100				100				22				5
September 30, 2022		September 30, 2026			3.156	%			350				350				9				—
January 2,2024		January 31, 2028			2.841	%			250				—				7				—
September 30, 2022		September 30, 2027			3.198	%			350				350				10				—
January 2, 2024		January 31, 2029			2.986	%			250				—				6				—
September 30, 2022		September 30, 2026			3.358	%			600				600				10				—
									2,400				1,800				83				4
March 31, 2020		January 31, 2024			1.000	%			350				350				16				—
March 31, 2020		January 31, 2024			1.000	%			350				350				16				—
									700				700				32				—
								$	3,100			$	2,500			$	115			$	4

Summary of Gains (Losses) on Derivatives Designated as Cash Flow Hedging Instruments

The following table provides a summary of the gains (losses) on derivatives designated as cash flow hedging instruments:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2022				2021				2022				2021
Foreign exchange forward contracts:
Net gains recognized in accumulated OCI		$	48			$	3			$	73			$	14
Net gains (losses) reclassified from accumulated OCI into income		$	5			$	—			$	9			$	(2	)

Summary of Losses on Derivatives Not Designated as Hedging Instruments

The following table provides a summary of the losses on derivatives not designated as hedging instruments, consisting of balance sheet hedges and interest rate caps:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2022				2021				2022				2021
Net losses recognized in income		$	(11	)		$	(2	)		$	(4	)		$	(9	)

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Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

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Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

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Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

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Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

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